Question: If we have four problems such as maturing age, climate change, health access, and mental health and we have developed 4 products to solve these
If we have four problems such as maturing age, climate change, health access, and mental health and we have developed 4 products to solve these problems such as chemical peeling for maturing age, LED efficient light bulbs and drought resisting crops for climate change and mobile health clinics for health access problem. Now solve this back of envelope analysis on these following products. It is given in image below:
To pick your final group idea: 1. Do a "Back of the Envelope Analysis" on each of your top five ideas. 2. THEN: Technical Development Considerations _ Keep it Simple: Keep it simple to build, transport, maintain, and use. _ Make it Flexible: Product might be used for a number of different applications. _ Robust and Work as Intended: Products needs to be durable, reliable, safe and easily maintainable. 3. THFN: Comnare vour Idea to the Ideal Business THEN: Compare your Idea to Fatal Flaws Very Good Average Poor Very small market for the product. Overpowering competition and high cost of entry. Inability to produce a competitively priced product. Lack of influence over product development costs. Inability to go beyond a one-product company. Overwhelming financial requirements. Inability to achieve adequate growth
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